Genting Gambles in Florida with Uncertain Results
A rendering of just one portion of the proposed Resorts World Miami Genting casino resort project; the $3 billion project still hasn’t received a high sign from Florida lawmakers.
They do say money talks, but in Genting Resorts World’s case, it’s perhaps not been speaking as loudly as the ongoing company might like.
Maine Casinos Oppose Expanded Gambling in State
People think about Maine like this, but a small casino contingent is trying to hold their own there since well. (Image: Katarina Neef/atpm.com)
We may not agree with them, but we understand there are numerous reasons that individuals may oppose more gambling in their state, from moral objections to worries about issue gambling. However in Maine, gambling is finding an unusual opponent: the casinos on their own.
Read Our Lips: No New Casinos
Officials from the 2 Maine casinos presently in procedure spoke to lawmakers this and said that they shouldn’t approve any expansion of the casino industry in the state week. In cases like this, it appears that the casinos believe that the market in the state is wholly saturated already while others believe they’re simply afraid of a small competition.
The two properties in question the Hollywood and Oxford Casinos faced off as you’re watching Joint Standing Committee on Veterans and Legal Affairs against members of two native tribes that are american the state, along with the owner of the Scarborough Downs race track, over a number of bills that would serve to expand Maine’s gambling options.
The most controversial of these is recognized as LD 1111. It would allow Scarborough Downs to become a ‘racino,’ operating slot machines along with their horse that is current racing. That issue has already been brought to referendum last year, when it received only 45 % of the vote statewide.
According to track owner Sharon Terry, Scarborough Downs is struggling due to the competition it faces from the casinos into the state particularly Oxford Casino, which is simply 45 minutes away and opened in 2012 june. And even though Hollywood Casino may be further away, it has a companion racino, allowing it to offer everything Scarborough Downs can and more.
Terry says that revenues fell 21.8 per cent at her track since slots were allowed during the Bangor race track, and that the problem gets a whole lot worse considering that the opening of the Oxford Casino. The cut in revenue not only threatens the track, but also Maine’s entire horse racing industry since Scarborough Downs is responsible for 101 days of racing each year.
‘The Downs cannot endure beneath the laws that are current’ Terry said.
Nonetheless, the general managers of both gambling enterprises in addition to several business people into the Oxford area disagreed, opposing slots that are allowing the Scarborough Downs facility. In general, the gambling enterprises feel that any gambling that is new the state threatens to ‘cannibalize the industry,’ as Maine is a relatively small state without enough gamblers to support more venues.
That helps explain why additionally they opposed three other bills being considered by hawaii. Those include a bill that would allow charities to perform up to five slots at their headquarters so that you can raise funds, as well as two bills that would allow Indian tribes to expand their gambling operations: one which would let the Houlton Band of Maliseets to operate slots and table games, and another that would let the Passamaquoddy Tribe apply to run table games and slots at a current bingo facility.
‘Should further facilities available or expand, we would see erosion that is further of customer base,’ said John Osborne, general manager of the Hollywood Casino.
Big Banks Refuse to Process Legal Online Gambling Transactions
Major charge card issuers like Chase, Wells Fargo and American Express will not process even legal on line gambling transactions, they do say. (Image: Jason Hindley/money.cnn.com)
Every thing seemed therefore hunky dory: Nevada, Delaware and brand New Jersey all got legal online gambling or at least poker, in Nevada’s situation up and running in 2013, and except for a few dilemmas with geo-location snafus, overall, the internet sites in all three states have actually been running pretty smoothly. Except for one bug that is fairly major has nothing in connection with the sites themselves: major financial organizations like American Express, Wells Fargo and J.P. Morgan Chase are refusing to process any cash interactions on these sites, legal or otherwise not.
Your Transaction Is Denied
Whether credit or debit, several card that is heavy-hitter say they aren’t gambling when it comes to honoring their cards on online gaming web sites. And obviously, that’s not sitting well with many players who say, just what provides? But the banks involved say they will not budge, not for online gambling enterprises, poker or also legal sports betting in Nevada.
‘We never let credit card transactions for this task,’ stated Steve O’Halloran, manager of pr and affairs that are public Chase Card and Merchant Services. And American Express spokeswoman Sanette Chao concurs, saying her company simply ‘prohibits the use of the card for gambling services.’
While some may conclude that this is some kind of moral imperative, it turns out that it’s more of a bottom-line that is simple choice than anything else.
‘Gambling services, historically, account for a large number of card user credit losses and customer service disputes,’ noted Chao.
UIGEA Still Directs Banks’ Positions
And some banks do still hold onto the old UIGEA model (illegal Internet Gambling Enforcement Act of 2006), because, in the end, from the federal standpoint, it is still murky just how it’s to be interpreted following a 2012 reinterpretation of the initial 1961 Wire Act ended up being handed down from the Supreme Court that opened the door to at state-by-state that is least lawful Internet gambling.
Wells Fargo spokeswoman Natalie Brown claims this really is the thinking behind her company’s decision to decline gambling deposits.
‘In compliance with regulation GG (illegal Internet Gambling Enforcement Act of 2006), we prohibit the application of consumer credit cards for online gambling,’ said Brown, whom is vice president of consumer financing communications with Wells Fargo. ‘The sites (Visa, MasterCard and Express that is american the vendor category codes and block costs that do not adhere to federal laws.’
While this may earn some feeling from their views, it can prove a reality that is frustrating online players in legal gambling states.
‘What the industry has done is take an approach that is conservative response to the legalization of online gambling,’ said Tobin Prior, CEO of Ultimate Gaming, which really is a subsidiary of Station Casinos, a land-gaming proprietor in Nevada and the first to go online with legal poker into the Silver State. ‘That can be frustrating, but we work with clients to find options.’
One of some great benefits of this brick-and-mortar/Internet symbiosis is that clients can both fund and cash down at any of the land video gaming properties, in either Southern Nevada or at Station’s land video gaming partner the Taj Mahal in Atlantic City. Players can also use e-checks or cable transfers to prior make deposits noted.
While legal online sites might wish that banks had been more within their court right now, Caesars WSOP site’s spokesperson Seth Palansky claims it really is what it really is.